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20121104
Search Results 0 to 9 of about 10 (some duplicates have been removed)
. what is the toll on businesses and economies? you see businesses in the affected area have no power. so they can't pay their bills. they can't do whatever their business is. i mean it's a big problem. >> it is a big problem. we've heard economists are all over the place. we heard anywhere from 20 upward to 50 billion in damages both from infrastructure as well as lost profits but it's going to take some time for business to get back on its feet. i think you heard mayor bloomberg earlier say, you know, new york is doing well but it took a direct hit and he is expecting it to take a couple weeks. melissa: the other source of fuel that we're watching, of course is gasoline. and the impact on refineries wasn't as great as some thought. there was only one refinery in new jersey that went down. at the same time we talked to some gas station owners experiencing supply shocks. what do you think is the fallout for supply? >> i think the good news unlike katrina, this will be more of a localized event. we lost billion two million barrels a day of refining capacity along the east coast. but, that'
a great caterer. >> myths about disaster. >> it is not her fault to the economy. >> i should do this. >> this super pac is going crazy. >> myths about the election. >> neil: the auto industry zero argoankrupt? >> and that is our show tonight. john: tonight we exploded duty night about elections and a natural disaster. i am told hurricane sandy is proof we need a powerful federal government, the fema to provide emergency management. the just makes sense. disaster across state lines who but the fed can help? the new york times declared a big star requires big government. very few politicians are skeptical. it is a relief to turn to ron paul. doctor, it is of myths that we need fema? >> i think so. it causes more harm than good. we handle plus a disasters 204 years before we had fema i have taken this position for a long time since the was first in office and i kept getting reelected because people were tired of fema. locked into insurance and it is a bureaucracy. they just takeover. john: across the fed line they have to have rolled? >> no. we should have real insurance. it causes many
. thanks so much for that. >>> turning to the economy third quarter gdp came in at 2% today. not great. better than the sat 1.3% growth rate last quarter but a new survey of economists says there is still no light at the end of the tunnel. if automatic spending cuts kick in it could cost the economy $100 billion. it gets worse though. they say the t hikes that could come are twice as big of a problem. they would cost $200 billion. my favorite economist peter morici is here to commiserate with me over this one. this report is staggering. i like it though i have to say when somebody goes out and quantify the impact of these things because i don't want emotion. i want to focus in on the numbers. so let's do that. $200 billion out of the prate sector if the bush tax cuts go away. 100 billion of government spending that would stop under the sequestration. do those numbers sound about right to you and is there a multiplier at work here? does it matter more if you take money away from the consumer in forms of evaporating tax cuts or the government spending? >> well i don't know that it matter
the biggest headlines affecting the energy industry and their impact on the economy. first up, crude prices rose on their first day of trading since superstorm sandy renewed demand and helped drive prices up more than half a percent, settling at 86.24 a barrel. good news for nine major oil refineries on the east coast, assessments found they avoided serious damage. seven are working back towards normal operations. meanwhile short-term supply worries pushed up gasoline futures prices. they settled up more than 1% on the day. >>> president obama banging the drum on the rich paying their fair share on taxes. he has less than a week to sell the message. we're breaking down the facts. >>> plus, mayor michael bloomberg tells president obama, i think we don't need you to visit new york city, thanks very much. i think that makes it a lot of sense. one of the people on the show says it is a major slight and he is coming here to disagree with me. more coming up. ♪ . melissa: so it is the final stretch to six days till the election and the tax debate is getting even louder. the major battle cry from
for last several months and now we get a "c." it is not a great report considering how much the economy is down, we should create 350, 400,000 jobs a month without too much trouble. that is what reagan accomplished. that is how he got himself reelected. my feeling there is something wrong with the numbers. i don't mean anybody is coing them because that, jobs growth is too rapid for economy only growing at 2%, and also has 2% productivity growth. either is lot more gdp growth out there than we know about or this pace of jobs creation is going to slow down. melissa: nariman, is it possible the economy is growing faster than we think it is? >> it is entirely possible. i think there are early indications it might be. the other point to be made which kind of reinforces is what peter is saying there is some seasonal funny factors if you want to call it that. seasonal adjustments are all off. a lot of it having to do with the great recession, the dee recession we went through four years ago. so i don't completely trust the month to month changes in the numbers but the longer term trends i thi
damage from the storm are high but there could be a silver lining for he economy. even when you think it's not, it is always about money. melissa: so our top story tonight of course hurricane sandy ripping up the east coast, 90 mile-an-hour winds. storm surges up to 11 feet. hundreds of thousands of people right now without power. the national guard now on the streets of manhattan. train, buses and subways shut down in cities from boston down to d.c. our robert gray is in downtown new york city. robert, what is happening down there? >> well, melissa, the storm is certainly starting to pick up in its intensity a little bit here in battery park at the southern tip of the island of manhattan. we're seeing the gw and vary sauce -- verrazano bridges are being shut down. make your plans accordingly. there is no public transit all day. the water is making its way back in. the swales came its way in and entire sidewalk area i'm standing on was filled all the way up to water with the stairs. they have a sandbags, a few hearty souls checking it out. you can see sandbags there trying to keep things
to keep severe sanctions in place and put a hurt on the iranian economy. for us it would be a pr loss. for them it will was pr win. they get most of the win say hey we were willing to do this. they just decided not to accept it. melissa: yeah. i mean, speaking of pr, i mean last week they said that they were investing 100 dal billion in their oil industry and some wondered is that really a big number? do they have that kind of money. today they backed it up saying they were putting $40 billion in the oil industry by march of 2013. sort of doubling down on that bet and giving a definitive timeline. do you buy this? >> two things here you can't really verify. they could say 40 and put in 20 there is not a way for us to verify that. that is the first point. there is no process we would know that. second of all reality is so much of the economy is tied to the oil and gas industry, it is over 60% of the government revenues. they have no choice. it is their economic lifeline. they're in the middle of a 10-year plan to try to expand even further. as of about two years ago they were the secon
Search Results 0 to 9 of about 10 (some duplicates have been removed)

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